Small Business Startup News
Healthcare Reform Could Bring Encouraging News For Entrepreneurs
Written by Jenna Weiner
Published: 3/29/2010
More affordable health insurance could inspire entrepreneurs to break away from their current employers.
The passage of healthcare reform could encourage more entrepreneurs to start their own companies.
BusinessWeek reports that more affordable health insurance could allow an increasing number of employees to leave their jobs in order to work for themselves or found their own businesses.
Currently, workers with pre-existing conditions or those who cover their entire families with an employer's health insurance have the most incentive to stay at their current jobs: buying insurance could be too expensive or simply not possible.
As reforms begin to take effect, though, people in these situations could see more options. This will likely shift the way some entrepreneurs decide to start new ventures, according to the magazine.
Addressing the House of Representatives, Speaker Nancy Pelosi expressed her confidence in the effects of health insurance reform on business. "I believe that this legislation will unleash tremendous entrepreneurial power into our economy," she said.
One possible drawback could be the loss of talented employees who leave their jobs to become entrepreneurs.
This would happen in an improved economy, but it isn't a problem yet. In 2009, turnover rates were down for employers in every industry, category of workforce size, and region of the country, according to a survey from legal and business publisher BNA.
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